
From the U.S. Code Online via GPO Access
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[Laws in effect as of January 2, 2001]
[Document not affected by Public Laws enacted between
  January 2, 2001 and January 28, 2002]
[CITE: 31USC5315]

 
                       TITLE 31--MONEY AND FINANCE
 
                           SUBTITLE IV--MONEY
 
                    CHAPTER 53--MONETARY TRANSACTIONS
 
 SUBCHAPTER II--RECORDS AND REPORTS ON MONETARY INSTRUMENTS TRANSACTIONS
 
Sec. 5315. Reports on foreign currency transactions

    (a) Congress finds that--
        (1) moving mobile capital can have a significant impact on the 
    proper functioning of the international monetary system;
        (2) it is important to have the most feasible current and 
    complete information on the kind and source of capital flows, 
    including transactions by large United States businesses and their 
    foreign affiliates; and
        (3) additional authority should be provided to collect 
    information on capital flows under section 5(b) of the Trading With 
    the Enemy Act (50 App. U.S.C. 5(b)) and section 8 of the Bretton 
    Woods Agreement Act (22 U.S.C. 286f).

    (b) In this section, ``United States person'' and ``foreign person 
controlled by a United States person'' have the same meanings given 
those terms in section 7(f)(2)(A) and (C), respectively, of the 
Securities and Exchange Act of 1934 (15 U.S.C. 78g(f)(2)(A), (C)).
    (c) The Secretary of the Treasury shall prescribe regulations 
consistent with subsection (a) of this section requiring reports on 
foreign currency transactions conducted by a United States person or a 
foreign person controlled by a United States person. The regulations 
shall require that a report contain information and be submitted at the 
time and in the way, with reasonable exceptions and classifications, 
necessary to carry out this section.

(Pub. L. 97-258, Sept. 13, 1982, 96 Stat. 997.)

                                          Historical and Revision Notes
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---------------------------------
           Revised Section                   Source (U.S. Code)                
Source (Statutes at Large)
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---------------------------------
5315(a)..............................  31:1141.                        Sept. 21
, 1973, Pub. L. 93-110, Secs.
                                                                        201, 20
2, 87 Stat. 353.
5315(b), (c).........................  31:1142.
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---------------------------------

    In subsection (a)(3), the words ``it is desirable to emphasize this 
objective . . . existing legal'' are omitted as unnecessary.
    In subsection (c), the words ``(hereafter referred to as the 
`Secretary')'' are omitted because of the restatement. The words ``under 
the authority of this subchapter and any other authority conferred by 
law'' are omitted as surplus. The word ``prescribe'' is substituted for 
``supplement'' for clarity. The words ``the statement of findings 
under'' and ``the submission of'' are omitted as surplus. The words 
``Reports required under this subchapter shall cover foreign currency 
transactions'' are omitted because of the restatement. The words ``such 
terms are'' and ``the policy of'' are omitted as surplus.

                       References in Text

    Section 5(b) of the Trading With the Enemy Act, referred to in 
subsec. (a)(3), is also classified to section 95a of Title 12, Banks and 
Banking.

                  Section Referred to in Other Sections

    This section is referred to in sections 5311, 5313, 5318, 5321, 5322 
of this title.
